Clarity Capital Partners LLC Purchases 2,718 Shares of Snowflake Inc. (NYSE:SNOW)

Clarity Capital Partners LLC increased its position in Snowflake Inc. (NYSE:SNOW) by 37.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,039 shares of the company’s stock after purchasing an additional 2,718 shares during the period. Snowflake makes up 1.1% of Clarity Capital Partners LLC’s investment portfolio, making the stock its 28th largest holding. Clarity Capital Partners LLC’s holdings in Snowflake were worth $1,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. Accent Capital Management LLC purchased a new position in Snowflake during the 4th quarter worth $25,000. Riverview Trust Co purchased a new stake in shares of Snowflake during the first quarter valued at approximately $31,000. Hartford Financial Management Inc. bought a new stake in Snowflake during the first quarter worth $32,000. Future Financial Wealth Managment LLC purchased a new position in Snowflake in the first quarter worth $32,000. Finally, FinTrust Capital Advisors LLC grew its position in Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the subject of several research reports. JMP Securities reissued a “market outperform” rating and issued a $235.00 target price on shares of Snowflake in a research report on Tuesday, June 4th. Loop Capital decreased their price target on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Wedbush reaffirmed a “neutral” rating and issued a $210.00 target price on shares of Snowflake in a research note on Wednesday, June 5th. Macquarie dropped their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Finally, Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $199.46.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 546 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total transaction of $70,608.72. Following the sale, the executive vice president now owns 756,489 shares in the company, valued at $97,829,157.48. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Snowflake news, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the transaction, the executive vice president now owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 546 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total transaction of $70,608.72. Following the sale, the executive vice president now directly owns 756,489 shares in the company, valued at approximately $97,829,157.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 534,960 shares of company stock valued at $67,198,020. 7.80% of the stock is owned by insiders.

Snowflake Stock Performance

Shares of Snowflake stock traded up $0.03 during trading on Wednesday, hitting $137.49. The company’s stock had a trading volume of 5,831,190 shares, compared to its average volume of 6,611,155. The company has a market capitalization of $46.03 billion, a PE ratio of -49.10 and a beta of 0.85. Snowflake Inc. has a 52 week low of $122.60 and a 52 week high of $237.72. The company has a fifty day simple moving average of $143.67 and a two-hundred day simple moving average of $170.07.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $828.71 million during the quarter, compared to the consensus estimate of $786.95 million. As a group, analysts predict that Snowflake Inc. will post -2.28 EPS for the current year.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.